August 9, 2016
WHEFA Bond Financing Helps St. Camillus Health System, Inc. Expand and Renovate in Wauwatosa
“As a direct result of tax exempt financing, St. Camillus will be able to enhance and expand the mission of the priests and brothers of the Order of St. Camillus, add permanent, meaningful jobs to our workforce in addition to the construction workers assigned to our project by remaining competitive in a very aggressive, post-acute health care industry.”
– Rick Johnson, CEO
St. Camillus Health System, Inc.
Bond financing facilitated by WHEFA will help St. Camillus Health System finance the acquisition, construction, renovation, remodeling and equipping of a new building which will include 48 memory care assisted living units, 24 new frail assisted living units and a 50-unit residence for retired priest and brothers of the Society of Jesus. Additionally, a new 20-unit community house for their priests and brothers will also be built on the campus. This federally tax exempt financing process has enabled the borrower to operate more effectively by financing its capital expenses at a lower interest rate (initially 1.67%).
WHEFA is proud to have been able to assist St. Camillus Health System by reducing their overall debt service and allowing them to grow and compete by providing access to low cost private capital.